This is the seventh article in a 10-part series for recruiting professionals and entrepreneurs who are interested in joining the Lakeshore platform. To read the previous six articles and learn more about this and other reasons to join Lakeshore, you can visit our series homepage.
Culture is the personality of the environment in which you work. It includes the company’s mission, expectations, and work atmosphere and it’s a very important to success.
And while culture has recently become somewhat of a buzzword around offices, it is something that can’t be measured. It has inherent value and it makes a tangible difference. Plus, creating, implementing, and maintaining a strong culture that reflects your values and beliefs really pays off.
Consider this: over a lifetime, workers spend an average of 90,000 hours on the job. So while generous salaries and ping pong tables might be helpful, research shows that what people really need extends beyond the usual job perks.
The key to happiness and success is culture. Working in an environment focused on building success through ethical principles makes a difference. And working in an environment that recognizes and embraces the values, attitudes, standards, and beliefs is important.
Statistics show that a company’s culture has a direct impact on employee turnover, which affects productivity, and, therefore, success. According to a recent Columbia University study, the likelihood of job turnover at an organization with high company culture is a mere 13.9 percent, whereas the probability of job turnover in low company cultures is 48.4 percent.
So what is the reason for this? Unhappy employees only do the minimum. Even if they are great workers, if they are working in a toxic culture, they quit.
Although you don’t have to be a math whiz to understand the correlation between happiness and productivity, in a recent study, the Department of Economics at the University of Warwick found that happy workers are 12 percent more productive than the average worker, and unhappy workers are 10 percent less productive. In fact, unhappy employees cost American business over $300 billion each year. So it literally pays to create a great culture.
In the staffing industry, ethics are often questioned. Wouldn’t it be great to not only work in a positive culture in this industry but also one that is based on ethical principles?